Brazilian lawmakers propose a bill to legalize Bitcoin based wage payments

According to The Crypto Basic, former federal congressman Luiz Phillipe of Orleans Braganza from Sao Paulo, Brazil, has submitted a bill to the Brazilian Congress seeking to legalize Bitcoin salary payments. This politician proposed legislation to allow Brazilian workers to receive wages and labor rights in the form of cryptocurrency. The bill aims to allow workers to receive up to 50% of their wages and benefits in the form of digital assets. It is worth noting that the bill does not mandate the acceptance of Bitcoin, but rather provides a legal basis for residents who wish to access emerging technologies. With the consent of the employer, employees may choose to obtain labor rights in the form of Bitcoin and may terminate this payment method at any time. The bill also stipulates that 50% of salary must still be paid in Brazilian reals to ensure currency practicality. However, this provision does not apply to freelancers, foreign nationals, and self-employed individuals, and related affairs are regulated by the Brazilian Central Bank. The proposal needs to be passed by a plenary session of the House of Representatives and a majority vote before it can enter the Federal Senate for final review.